AACE International’s Decision and Risk Management Professional (DRMP) certification program is designed to establish credentials that recognize professional expertise, skills and knowledge in the decision and risk management area of practice within cost engineering. This is your chance to be among the first recipients of this exciting new specialty certification by participating as a beta-tester for our new certification! The beta examination in December 2012 will be limited to no more than 60 potential candidates. For the beta examination, it is expected that candidates will be experienced risk subject matter experts and well read in the general industry literature on recognized decision and risk management principles and practices.
Candidates are those desiring to be recognized for their strong skills and knowledge in decision and risk management as it relates to their broad business and technical perspectives and senior-level experience in life cycle asset and project management. Skills and knowledge range from analytical (e.g., statistics and modeling) to socio/psychological (e.g., risk elicitation and communication) to management (e.g. risk response planning and management). Candidates may include but are not limited to risk managers, decision and risk management consultants, capital program managers or planners, project managers, value engineers and any cost engineering professionals focusing on asset and project decision and risk management.
While it is not required, candidates will benefit from first passing the CCC/CCE examination because of the exams’ shared skills and knowledge of Total Cost Management (TCM) and cost engineering in general and economic analysis in particular. However, passing the DRMP is not a substitute for nor does it indicate achievement of the CCC/CCE.
At least 8 full years of professional experience, of which up to 4 years may be substituted by a college/university degree. Related degrees include: engineering, building construction, construction technology, business, economics, accounting, construction management, architecture, computer science, mathematics, etc.
Pre-Registration for Beta Examination Currently, the initial registration for the December 8, 2012, beta examinations through AACE International will begin October 1, 2012. To help plan and expedite the process, we would like to identify potential candidates immediately. If you plan to apply for the beta examination, please send an email to DRMcommitteechair@aacei.org giving us your name, email address and planned test location (see further info below) so that we can remind you when formal registration begins or regarding any changes in the timetable. No formal commitment or fees are required at this time. You will be provided detailed instructions on how to register online via email when the registration process is available.
At the time of formal registration, the fee will be US$200 for those individuals approved for the beta examination. This reduced fee is only offered to those individuals selected to participate in the beta examination and requires the candidate to provide structured feedback upon the examination process via a formal survey. Upon successfully passing the DRMP Beta examination, a candidate will hold the DRMP designation for three years at which time you will have to recertify through the AACE International professional credit plan in order to retain the DRMP designation.
The special beta examination registration period, planned for October 1 to November 2, 2012, will require a completed application, education verification, experience verification, letters of recommendation (as applicable to support experience verification), and fees to be sent to AACE International Headquarters.
Verification of Qualifications and Passing the Examination
Candidate applications are reviewed and verified prior to an individual being eligible to sit for the beta examination. To become DRMP certified, an overall passing score must be achieved as determined by the Certification Board. At the testing site, Beta examination candidates must also provide feedback to the proctors about the quality of the exam content and study materials and complete a survey within one week following the examination as part of the candidate’s agreement to participate in the Beta examination.
Recommended Study Materials
AACE’s DRMP Study Guide
AACE's Recommended Practice on the "Skills and Knowledge of a Decision and Risk Management Professional" describing the DRMP Body of Knowledge (BoK) (the DRM technical committee review draft to be available by September 1, 2012)
AACE’s Total Cost Management Framework (with emphasis on sections 3.3 and 7.6)
AACE’s Recommended Practices (RPs) (with emphasis on those referenced to TCM 3.3 and 7.6; the Study Guide will provide a specific list)
AACE’s Recommended Practice 10S-90: Terminology
AACE’s Skills & Knowledge of Cost Engineering, 5th edition
AACE’s CCC/CCE Certification Study Guide, 3rd Edition
AACE’s Professional Practice Guide #2: Risk
AACE’s Professional Practice Guide #8: Contingency
Further general industry references will be in the DRMP Study Guide
For the beta examination, it is expected that candidates will be experienced risk subject matter experts and well read in the general industry literature on recognized decision and risk management principles and practices; however, where applicable, AACE’s TCM Framework and Recommended Practices are emphasized.
Exam Structure The beta DRMP examination will be administered on paper. All sections will be closed book (any reference material required for a question will be provided with the exam). It will consist of four parts of 1 hour and 45 minutes each:
Part I-Basic Cost Engineering and Statistics (DRMP Study Guide Sections 1 and 4)
Part III-Economic Analysis
Part IV-DRM Practices (DRMP Study Guide Sections 2 and 3)
Parts I, III, and IV will be a combination of single and compound part multiple choice questions.
Part II will require candidates to demonstrate both communication skills and insight regarding a challenging DRM workplace scenario. Candidates will select a scenario, study it, and then draft a memo to the appropriate recipient demonstrating the candidate’s ability to organize thought and communicate effectively while demonstrating their perception of the complexities of the scenario situation.
The passing score or mark will be the average of ALL 4 parts, including the memo part.
Prior to 08 November 2012 (The cost of Study Guide to be advised upon registration acceptance)
08 DECEMBER, 2012 (date may vary somewhat by location)
The present beta examination locations are
USA, TX - Houston Gulf Coast Section
CANADA, AB - Calgary Chinook Section
USA, VA - National Capital Section
If properly qualified, we hope you will consider taking this beta examination. Again, if you are interested, please send an email to DRMcommitteechair@aacei.org giving us your name, email address and planned test location (see further info above) so that we can remind you when formal registration begins.